SEOUL, Dec. 4 (Korea Bizwire) — Video streaming service YouTube has been the most used mobile app in South Korea for an entire year, industry data showed Wednesday. The Google-owned mobile platform recorded 46.35 million monthly active users in November, maintaining its lead for 12 straight months in the country, according to the data from [...]
SEOUL, Dec. 3 (Korea Bizwire) – In a shift away from luxury brand obsession, South Korea’s younger generation is increasingly adopting a “YONO” (You Only Need One) approach to fashion consumption, prioritizing practicality and versatility over conspicuous consumption. The trend, particularly popular among millennials and Gen Z consumers born between the early 1980s and early 2000s, [...]
SEOUL, Dec. 3 (Korea Bizwire) –Half of the citizens from eight countries regard the unification of South and North Korea as necessary, and North Korea giving up its nuclear weapons is cited as the top prerequisite for unification, a poll showed Tuesday. A total of 50 percent of respondents said the two Koreas should [...]
SEOUL, Dec. 3 (Korea Bizwire) – Single-person households in South Korea have reduced spending due mainly to high housing expenses and a tough job market situation, affecting the recovery of private consumption, a central bank report showed Tuesday. The proportion of one-person households out of the country’s total has been on a constant increase from [...]
SEOUL, Dec. 2 (Korea Bizwire) – South Korea’s gaming industry, long reliant on the lucrative “loot box” model, faces mounting legal and regulatory challenges after a landmark court ruling against Nexon. The Supreme Court upheld a decision ordering Nexon to partially refund a player for misrepresenting item probabilities in its popular game, MapleStory. The ruling is [...]
SEOUL, Dec. 2 (Korea Bizwire) — South Korean food company CJ CheilJedang Corp. said Monday it has introduced its “shelf-stable” noodle products to the European market for the first time this month. The company has introduced its shelf-stable noodle product, bibigo Korean Style Udon Noodles, in Britain, Sweden and Spain to gain a bigger share [...]
SEOUL, Dec. 2 (Korea Bizwire) – Hyundai Motor Co. announced on December 2 the release of the Avante N TCR Edition, a limited-edition model that incorporates the automaker’s expertise in motorsports. The “TCR” in the model name refers to the Touring Car Racing World Tour, a global competition for production-based race cars, in which Hyundai has [...]
SEOUL, Nov. 30 (Korea Bizwire) – The South Korean Ministry of Education has announced adjustments to its timeline for introducing AI-powered digital textbooks, originally set for widespread implementation by 2028. The decision, unveiled on November 29, reflects growing concerns from educators about the suitability of such technology for certain subjects and the challenges of rapid adoption. [...]
SEOUL, Nov. 29 (Korea Bizwire) – Two decades after their introduction to South Korea, Private Equity Funds (PEFs) have transformed from behind-the-scenes investors into influential powerbrokers wielding control over industries ranging from heavy manufacturing to fast-food chains. These once-reclusive investors, who previously surfaced only for occasional mega-mergers, now command a significant presence across South Korea’s business landscape, [...]
SEOUL, Nov. 28 (Korea Bizwire) – The mental health of elementary school staff in South Korea is under scrutiny as nearly 10,000 employees reported suffering from depression in 2023, according to data released by the National Health Insurance Service. This alarming trend follows a high-profile incident involving the suicide of a new teacher at an elementary [...]